Hey VP, I thanked you like 5 months ago but I want to thank you once again because my algo. is complete and I've been following the money management / psychology. This has really changed my life, because I am now getting tested for a prop firm and I have all the confidence to succeed.. super grateful for your work!
Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
It's about that time guys, time to go through the money management playlist again. Even if you practice it, nothing is wrong with reinforcing good teachings. ^_^
Warren Buffett - "Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1." VP help in every aspect of my trading but putting the emphasis on money management was by far my greatest take away. It’s crystal clear why most people lose money trading.
Money management is essential, even with a decent strategy you will never no how far you can take the strategy ie. is your strategy scalable? A good money management spread sheet can tell you this ahead of time.
I'm working on this now...I've been testing indicators and exits and volume with great results with the indicators I've searched high and low to find without focusing too much on money management and ATR and of course it's destroying me on Margin calls. Good news I've got a great system thanks to you. Bad news, there isn't any cause I'm in a sim. Once I master ATR and risk structure....look out.
I’ve heard people say that you should not hold forex pairs because of the potential for large weekend gaps in the wrong direction. Most of the time, the forex pairs do not substantially move over the weekend. However, I have seen currency pairs gap 400 pips over a weekend. If your normal stop loss is 40-60 pips, a 400 pip move against you can be devastating to your account balance. Do you agree with the advice of not holding any forex trades over the weekend or do you think that you miss too many trading opportunities by refusing to hold forex positions over the weekend?
Hello VP. I am your compulsive follower but I need help in one thing: RISK MANAGEMENT. I have built a strategy based on yours but in order to be profitable I need to achieve more than 60% win rate. And I blame the risk management for that. The problem is that when you close half your position at 1xATR in order to compensate for a losing trade the winning one must travel up to to 2xATR minimum and it sometimes does not happen. Maybe I am not understanding correctly the risk management. Could be...
Me watching 3 videos from VP channel Me 1 second later googling: how to watch 161 videos and read blogs in one-hour maaaaaaaaaan I will have an over-doze issue and I will pass away before being a pro trader hahahah thanks again for the time ^^
Has anyone tried was Vp said? I mean take money management seriously and trading psychology in place and just flip a coin and make actual wins over time?
"Money management is everything." Don't even think about working for a real prop firm if you don't believe that statement with every fiber of your being. They don't want you if you don't. They won't even care how much money you can make until they are satisfied with how much money you didn't lose.
Hi I would like to ask you for advice. I am a day trader when I analyse the market with technical analysis and prepare to trade, but sometimes it is difficult for me to stick to my trading plan due to events that affect the market. Can you tell me how to manage my open positions in the market during important events so that my trading plan does not suffer?
@@NoNonsenseForex I've watched the video and yes, I agree with you that smaller events that are even in the red folder on an open position can only pinch a little bit, but usually come back up later. The problem is that in order to apply your strategy I would have to switch from H4 to D1, and that would get a bit closer to swing trading, and that requires a bit wider SL to not get caught by those events that can pinch positions, The problem is that when I switch from H4 to D1, I am exposed to more risk simply because I have a small trading account at the moment, and switching to D1 requires a larger account for the risk to be appropriate, so I don't know what I can do in this case when I enter H4 and have a small account and therefore events attack my position. .... and at this point I am defenceless in this situation .... could you give me some advice on this ? Before I switch to D1 ?
More pips does not mean more risk. Simply lower the amount of risk. If it's so small your platform won't allow it, then you will need to stay with the 4h charts.
Not to be a smart ass or anything, i’m here to learn. But isn’t money management on nr.2 and trading psychology on nr.1? I can recall saying psychology wins it over money management? Thanks!
Dont let yourself be held up and waste time by ranking individual parts' priority ranking. bottom line is: they are ALL critical to your success. VP just likes to stress the more undervalued parts so you actually do them instead of skipping to fancy indicator videos.
Actually, getting your Trading Psychology in order is a result of having a good system of Money Management you could rely on. Therefore, I would put MM first followed by TP. It's sort of like confidence. Everyone tells you to be more confident but it cannot be faked. Confidence is a result of already having accomplished something many times before, thus giving you the confidence you can do it again.
No. On average you make 4 pips of losses each trade. You cannot be profitable like this. To even have any chance of winning portfolio wise you need to have a positive expected value. Then and only then, the exact distribution of your trades wins and losses plus the money management will decide if youre profitable or not. The coinflip thing about trade entries is a good mantra, but factually inaccurate.
Absolutely genuine! I cant believe that you exist. Listen up everybody. He is given us almost everything we need. Just piece it together and add some of your flavor. Put in the time and hard work. Thanks VP!
Seeing immediate results implementing your recommendations and strategies. Thank you so much for sharing this info. A lot of people out there will be benefiting.
Ok, Brazil is in the house again, and I didn't like to see this image... It was so sad bro... But was a reality, 7x1 wow I remember been watching to the game and seem that terrible few minutes with all that sequencial gooals... It's better make my money management get stronger than now, thanks bro...
I thought I was alone and crazy, today I found you, faith restored. V for VP and vendetta, "The banks have given us 25% interest rates on credit cards. They have screwed us on student loans that we can never get out from under. Then this guy walks into my office and says those same banks got greedy, they lost track of the market, and I can profit off of their stupidity? Fuck yeah, I want him to be right!" - The Big Short (2015).
VP , love your content I do believe you are honestly trying to help, but I can"t wrap my head around this fact, the video is on Money Management I now know its the sole most important thing in forex trading but your video does not explain it, I've gone through podcasts 3-13 lots of good info but you don't go indepth, it's always later later later? Dirty Dozen video, excellent but which are the good indicators?? and so on, don't get me wrong I do like your content maybe just not following it correctly?
More than 5 pages of notes. My good friend told me I'd find a way to create my own system. With VP, my destiny is mine to create. Thank you VP for the blueprint. I currently drive a truck, 48 states.
I wish I'd found this video before the morass of hype, mysticism, "I don't know what this indicator does but I'll try to explain it like I do" (yes, there are videos that start with almost those exact words), and overly-specific coin-flip prognostications on currency pairs, because this and the general "calm down" tone of this channel were probably the most influential in my decision to not run away screaming and go get my shirt back. I didn't attain wealth beyond my wildest dreams in hours, but losses are speedbumps and way less frequent now. Kinda feels like this channel is the trading equivalent of being told to grow up, and I kinda needed that.
Thank you so much VP for this video, my trade psychology was all over the place and that was simply because i was worried about the money i could lose, but when i accepted a set amount to lose, combined with good trade entries i just let my edge play out and so far its been awesome, i can sleep better at night lol - especially knowing i have a trailing stop to protect my capital too
Money management is nothing if you don't have a profitable strategy and a good psychology to follow that profitable strategy. Without these two it is completely useless, with your coin flip strategy no matter how go you are with money management and psychology,you will lose the account by the spread cost. Without a profitable strategy even if take 0.1% risk you will loose the account,it will just take more trades. The number 1 is psychology and second is profitable strategy, third is money management where you just need to risk a amount that will keep your account even after so many trades.
Moneymanagement is the one thing I tried to get right before I entered my first live trade. I understand that risk is the only thing you can control by using the ATR times a safety factor, say 1.5 to 2.5 to prevent getting kicked out if price goes the wrong way for one day. If your stop loss is hit, you will never lose more than what you are comfortable with. I am currently happy with a risk per trade of 0.3 to 0.5 % of my account. I intend to go to up 1 to 1.5 % once I know that my profit factor will have become good enough long enough to allow that and also trade with more money. I put some kind of "graduation plan" in place for myself: I may finally trade at a greater risk per trade if I reach a certain profitabilty stage. If I fail, back to square one, try again. Trading costs are another issue, though. I find using CFDs allow to trade 0.3 % per trade even if you have a small account (less then 10k) without getting killed by trading costs. Now that I have discovered No Nosense Forex, I am confident I will be able to improve my profit factor considerably by putting the work in and putting all the great stuff to work that I learn here. It's been a game changer for me already! Thank you so much for this channel!
I 've watched several of your videos within the last two days. Before watching them, I have made 2,000 pips this month doing everything wrong. I can't wait to see how well I do after you teach me how to do everything right.
Have you been following the algorithm piece? You should pop in the telegram channel. I'd also love to chat and see how similar our structure is. Been testing indicators for a bit and love to team up
I am home from my evening/night job and re-binging on the psychology and money mgmt videos. The more I watch again and again the more it sinks in. I'll be going home soon to attend graduations. I've got one niece and two nephews that will be learning about the rich dad poor dad cash flow money mgmt game which I myself have learned a shit ton from...and they will all get turned on to no nonsense forex. It's always an adventure when I come back into town lol
After watching tons of videos on forex trading, i can truly say that watching your money management playlist was the best thing to happen to my trading. Thank you
I am creating a spreadsheet that I could manage my trades and help me make decisions so far the trade entries are the easiest ones but managing a trade is the pain in the ass I am watching over and over again so I could create a system and formulas so I can make decisions very quick. I hate homework! hahaha thank you so much VP.
Man I'm so lucky that I've just started about 2 months ago and found your channel. Trading in poor money management almost wiped out my confidence in trading !
Damn, I can't believe you went there. Germany whooping Brazil in the Maracana! The penta campeon would never outlive this "L". I guess they didn't applied money management and relied too much on indicators.
Ok, so you talked for seven minutes about how important moneymanagement is. But no solution, no hint at at all to how actually get productive in this matter. Just talk. I guess you are great at what you do and I am still not. But that was definetely too much talk. btw. Many comments seem fake, like you could walk on water ^^ good luck in the future.
I really wished you didn't talk about this coin flip BS. *Risk Reward is NOT an Edge* . A goddamn edge is an edge, no matter the Risk Reward. If you have a setup that (over a significant amount of times) works nearly 55% with a Risk Reward of 1:1, that's an edge. Btw, the coin flip thing and taking a random entry with "favorable" Risk Reward in the market randomness without any real actual edge? I back-tested this shit with algorithmic bot trading trading, taking random buy or sell entry based on 50-50 odds, and have come to the conclusion, good Risk Reward in of itself have NO EDGE over a market's randomness. (a negative edge actually including spreads, commissions and swaps) In the unlikely scenario with zero spreads, commissions and swaps; over 20 years of back-testing, beyond 10,000 trades' results are: SL: 50 pips | SL: 33 pips | SL: 10 pips | SL: 90 pips | SL = 49 pips TP: 50 pips | TP: 66 pips | TP: 90 pips | TP:10 pips | TP = 51 pips Win%: 50 | Win%: 33.3333 | Win%: 10 | Win%: 90 | Win% = 49 Loss%: 50 | Loss%: 66.66667 | Loss%: 90 | Loss%: 10 | Loss%=51 Gross profit = $0 | Gross profit = $0 | Gross profit = $0 | Gross profit = $0 | Gross profit = $0 (Btw Gross profit was always negative due to spreads, commissions, swaps, slippages and many more) *Win% is always the 100/( (TP pips)/(SL pips) + 1)* in this kinda random entry. This shows that we don't have an edge over *Randomness*. Probability always adjusts itself through repetitiveness, you just gotta do it long enough. Even trailing stops didn't work and here's why in my opinion: Suppose you flip a coin and enter a random buy or sell trade with 50 pips SL and 50 pips TP. Your probability of hitting the either is 50%. But now it has moved up 25 pips in your favor, which means the probability is now 75% that it will hit your TP and 25% that it will hit the SL (see why in my point above.) But say in case you had a trailing stop. When the market moved 25 pips above, the SL also moved 25 pips above and now the price is equal distance away from your SL and TP having the same 50% probability of hitting your TP. The lack of increase and decrease of probability mid-trade compensates/cancels out the shift in probability mid-trade from the first example. Thus having the anticipated Gross profit of $0, just like all other strategies *based on Randomness.* So my point is that probability shifts never gives off unexpected "Edges", it always adjusts itself to give the exact probable outcome. Probability is a bitch. Now having a real Edge is totally different, edges do exist, but Coin flip with "good" Risk Reward ain't one of 'em. According to my definition an "Edge" you have over the market is when you can win more than *100/( (TP pips)/(SL pips) + 1)* , meaning more what Randomness allows you to. Guys, guys...If using a risk reward of 2:1, you can win more than 33.333% over a substantial amount of times, or more than 25% of the time with 3:1 R:r ratio on a particular setup, then _that_ my friends, is an *_Edge_* :)
I talked very briefly about the coin flip, and if you watched more of my channel you'd see how I agree with you on having an edge, and we then combine it with trade management concepts different than what you showed in your example.
@@NoNonsenseForex Thanks for reading VP. I agree with u too, and you give out one of the most informative and quality content out there. I'm just pointing out my research with the coinflip style. The more people know it the better, right? Just like you I don't want people to base their ideas on the wrong fundamentals, that's all.
I had to laugh when the add before your video... "Being a trader can really suck, especially when your losing a lot of money repeatedly, but it can also be great too! Hi I'm suchandsuch, and I have been having success with this miracle strategy, and my students have too! You can be a master trader in 15 mins with this simple London market strategy. Click the link to get rich quick....." *quote may be para-phrased* Hahaha oh yeah, so sometimes you win? and you're in the exclusive 99% club?.. oh wow! I'm "oversold"! hahaha - VP you've put vocabulary to what I thought, but didn't want to believe. Thank you! Look forward to dominating, and donating!
VP, why are you so generous with your knowledge and not charging us $10,000 for your lessons. I am grateful.
Yep I'm looking for where I can give you money..
Because his not greedy like the rest of the forex gurus out there
Me too
@@nemzyg VP is ambitious (greedy) enough. The difference is that he makes his money trading, not selling bullshit.
@@mikescarborough9196 😂😂
Youre channel is the first channel that I came across in my 10 years of being on UA-cam where I actually clicked the bell notification button.
That's nuts! Love it.
Me aswell
And I
Lol, me too 🙄❤️ Wish I found you earlier. Could’ve saved me time and energy. And money, if you can count not earned money as lost money
Me too! Will definitely donate when I make some to VP :D
Hey VP, I thanked you like 5 months ago but I want to thank you once again because my algo. is complete and I've been following the money management / psychology. This has really changed my life, because I am now getting tested for a prop firm and I have all the confidence to succeed.. super grateful for your work!
What money management and psychology?
You can't control how much you win. You have absolute control over how much you lose.
Successful people don't become that way overnight. What most people see at a glance- wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
it is bean less than week i find you VP(your video , podcast , blog , discord
It's about that time guys, time to go through the money management playlist again. Even if you practice it, nothing is wrong with reinforcing good teachings. ^_^
Imagine watching this playlist 4 years later and realizing the relevance of this trading content
You are the man. I can never say that enough. I hope you don't get bored hearing that. You are the man. Peace & take care.
Thank You VP. For your Priceless Videos And the Knowledge you are Spreading with us. GOD Bless You. 🙏🏻👍🏻
Warren Buffett - "Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1." VP help in every aspect of my trading but putting the emphasis on money management was by far my greatest take away. It’s crystal clear why most people lose money trading.
Money management is essential, even with a decent strategy you will never no how far you can take the strategy ie. is your strategy scalable?
A good money management spread sheet can tell you this ahead of time.
I'm working on this now...I've been testing indicators and exits and volume with great results with the indicators I've searched high and low to find without focusing too much on money management and ATR and of course it's destroying me on Margin calls. Good news I've got a great system thanks to you. Bad news, there isn't any cause I'm in a sim. Once I master ATR and risk structure....look out.
This playlist alone will change the way you trade forex forever, thanks VP!
I hope you become wealthy. So I learn better.
Such a great playlist from the start. Demo testing and trading away!! Started Money Management Training.
i dont see myself using any other channel for information
I'm confused. where's the money management plan?
You are the best VP. Thanks for your valuable channel.
I’ve heard people say that you should not hold forex pairs because of the potential for large weekend gaps in the wrong direction. Most of the time, the forex pairs do not substantially move over the weekend. However, I have seen currency pairs gap 400 pips over a weekend. If your normal stop loss is 40-60 pips, a 400 pip move against you can be devastating to your account balance. Do you agree with the advice of not holding any forex trades over the weekend or do you think that you miss too many trading opportunities by refusing to hold forex positions over the weekend?
Thank you for everything you do. I’m so glad I found you/your content.
I am excited which way it will continue... like a thrilling audiobook👍
And now.........Next😅
kind regards🤗
In whole video you explained the meaning. But what about the real deal. How to do money management ?
nothing about money management, just that it is important to know... I guess thanks for the awareness
It's a trailer video for the Money Management playlist. Check out the rest, it's more of a step-by-step.
You are very right Sir.. I myself admit that I spent so much on no.3.. what an idiot. Thx for reminding.
Hello VP. I am your compulsive follower but I need help in one thing: RISK MANAGEMENT. I have built a strategy based on yours but in order to be profitable I need to achieve more than 60% win rate. And I blame the risk management for that. The problem is that when you close half your position at 1xATR in order to compensate for a losing trade the winning one must travel up to to 2xATR minimum and it sometimes does not happen. Maybe I am not understanding correctly the risk management. Could be...
It's not what you think it is. Just go through the playlist and it will make more sense.
any good tips on how to use money management as a beginner. any tip will be appreciated ❤❤
Can you do a video on monthly account returns in percentages please? Thanks!
You didn't go through the most important thing on the list, Money Management. Any video in depth on this thing?
Yes, a whole playlist. This was just the intro video.
that Brazil shade though, oof
Me watching 3 videos from VP channel
Me 1 second later googling: how to watch 161 videos and read blogs in one-hour maaaaaaaaaan I will have an over-doze issue and I will pass away before being a pro trader hahahah
thanks again for the time ^^
ikr, i'm binging like a mad man too. And taking so many notes. Oh god. It's dozens of pages of notes already.
Has anyone tried was Vp said? I mean take money management seriously and trading psychology in place and just flip a coin and make actual wins over time?
"Money management is everything." Don't even think about working for a real prop firm if you don't believe that statement with every fiber of your being. They don't want you if you don't. They won't even care how much money you can make until they are satisfied with how much money you didn't lose.
Hi I would like to ask you for advice.
I am a day trader when I analyse the market with technical analysis and prepare to trade, but sometimes it is difficult for me to stick to my trading plan due to events that affect the market.
Can you tell me how to manage my open positions in the market during important events so that my trading plan does not suffer?
The rest of this playlist will do this for you.
@@NoNonsenseForex I've watched the video and yes, I agree with you that smaller events that are even in the red folder on an open position can only pinch a little bit, but usually come back up later. The problem is that in order to apply your strategy I would have to switch from H4 to D1, and that would get a bit closer to swing trading, and that requires a bit wider SL to not get caught by those events that can pinch positions, The problem is that when I switch from H4 to D1, I am exposed to more risk simply because I have a small trading account at the moment, and switching to D1 requires a larger account for the risk to be appropriate, so I don't know what I can do in this case when I enter H4 and have a small account and therefore events attack my position. .... and at this point I am defenceless in this situation .... could you give me some advice on this ? Before I switch to D1 ?
More pips does not mean more risk. Simply lower the amount of risk. If it's so small your platform won't allow it, then you will need to stay with the 4h charts.
@@NoNonsenseForex Could you give me some advice on this as long as I am on h4 ?
How do I manage my position properly during events?
This material is straight 🔥
but in a tournament money management aint cheat when some mad trades bet 50 to 100 % of there account
I am brazilian and this video gave me PTSD
joking ofc
Winner's side.
what's in your best interest? thanks for vid....
"It's beneficial to you if you....." means the same thing.
means you should do it!
Man I fucking love you dude.
Not to be a smart ass or anything, i’m here to learn. But isn’t money management on nr.2 and trading psychology on nr.1? I can recall saying psychology wins it over money management? Thanks!
Dont let yourself be held up and waste time by ranking individual parts' priority ranking. bottom line is: they are ALL critical to your success. VP just likes to stress the more undervalued parts so you actually do them instead of skipping to fancy indicator videos.
Actually, getting your Trading Psychology in order is a result of having a good system of Money Management you could rely on. Therefore, I would put MM first followed by TP. It's sort of like confidence. Everyone tells you to be more confident but it cannot be faked. Confidence is a result of already having accomplished something many times before, thus giving you the confidence you can do it again.
Love you man!!!!!! Thank you for give us free gold!!!!!! God bless you!!!!!
Going back through again and I always pick up more gold information.
cant believe this is for free
How did you get your channel to grow so fast?
Some of my listeners took it viral back in November. That, and I'm charismatic AF. ;-)
ua-cam.com/video/4diZW0ayLsw/v-deo.html
6:52 I am brazilian and I am offended
👍👍👍👍👍
Suppose that among the 100 trades I win 20 for 20 pips each and loss 80 with 10 pips each. Is there any MM technique to win in this situation?
No. On average you make 4 pips of losses each trade. You cannot be profitable like this. To even have any chance of winning portfolio wise you need to have a positive expected value. Then and only then, the exact distribution of your trades wins and losses plus the money management will decide if youre profitable or not. The coinflip thing about trade entries is a good mantra, but factually inaccurate.
its my fault I own it!
VP I have to tell you I unsubcribed all others trading channels becuase you are the Number 1. Really unique teaching.
I would agree with you on that!!
Agree!
Who didn't, after discovering this channel?
agreed unsubscribed all trading trash people
i bet you're lying lol
👍👍👍👍👍
I've finished schoolof pipsology from babypips. Now it's time to start serious studies with VP. Let's go guys
Vp?
Starting that course today
Niceee me too, best of luck
Absolutely genuine! I cant believe that you exist. Listen up everybody. He is given us almost everything we need. Just piece it together and add some of your flavor. Put in the time and hard work. Thanks VP!
Seeing immediate results implementing your recommendations and strategies. Thank you so much for sharing this info. A lot of people out there will be benefiting.
Money management is absolutely the most important thing to master.
This is so true.
Rewatching this whole playlist! After 10 hours a day of testing indicators the last week, this is good material to review.
Ok, Brazil is in the house again, and I didn't like to see this image... It was so sad bro... But was a reality, 7x1 wow I remember been watching to the game and seem that terrible few minutes with all that sequencial gooals... It's better make my money management get stronger than now, thanks bro...
Primeiro brasileiro que vejo, de que cidade você é?
I thought I was alone and crazy, today I found you, faith restored. V for VP and vendetta, "The banks have given us 25% interest rates on credit cards. They have screwed us on student loans that we can never get out from under. Then this guy walks into my office and says those same banks got greedy, they lost track of the market, and I can profit off of their stupidity? Fuck yeah, I want him to be right!" - The Big Short (2015).
Big Short is my all-time fav movie. I watch it at least once a week.
Lmaooo, my mans really used the 7-1 Brazil 🤣🤣🤣🤣🤣
The best instructor on Forex out there.
VP , love your content I do believe you are honestly trying to help, but I can"t wrap my head around this fact, the video is on Money Management I now know its the sole most important thing in forex trading but your video does not explain it, I've gone through podcasts 3-13 lots of good info but you don't go indepth, it's always later later later? Dirty Dozen video, excellent but which are the good indicators?? and so on, don't get me wrong I do like your content maybe just not following it correctly?
This is the opener video for the MM playlist.
Nicely structured, easy voice, great fx trading content! I'll put my effort to get you more followers period.
More than 5 pages of notes. My good friend told me I'd find a way to create my own system. With VP, my destiny is mine to create. Thank you VP for the blueprint. I currently drive a truck, 48 states.
Good handful of truckers on here.
So, the learning begins! After 5 years of putting this off here we go... Glad I found your channel. Cheers for the work you’re doing.
I wish I'd found this video before the morass of hype, mysticism, "I don't know what this indicator does but I'll try to explain it like I do" (yes, there are videos that start with almost those exact words), and overly-specific coin-flip prognostications on currency pairs, because this and the general "calm down" tone of this channel were probably the most influential in my decision to not run away screaming and go get my shirt back. I didn't attain wealth beyond my wildest dreams in hours, but losses are speedbumps and way less frequent now. Kinda feels like this channel is the trading equivalent of being told to grow up, and I kinda needed that.
Thanks a Trillion VP. You are a genius. 🙏🙏
money management letss goo
❤❤❤❤❤🔥🔥🔥🔥🔥
Thank you so much VP for this video, my trade psychology was all over the place and that was simply because i was worried about the money i could lose, but when i accepted a set amount to lose, combined with good trade entries i just let my edge play out and so far its been awesome, i can sleep better at night lol - especially knowing i have a trailing stop to protect my capital too
Money management is key to success in forex trading.
VP you are a legend
6:31 Too soon, bro.
Money management is nothing if you don't have a profitable strategy and a good psychology to follow that profitable strategy. Without these two it is completely useless, with your coin flip strategy no matter how go you are with money management and psychology,you will lose the account by the spread cost. Without a profitable strategy even if take 0.1% risk you will loose the account,it will just take more trades. The number 1 is psychology and second is profitable strategy, third is money management where you just need to risk a amount that will keep your account even after so many trades.
The only thing I agree with here is that psychology is #1 (I bumped it up years after this video).
@@NoNonsenseForex❤
man, I am Brazilian... thats bullyin'
Please more money managemnt vids.
Moneymanagement is the one thing I tried to get right before I entered my first live trade. I understand that risk is the only thing you can control by using the ATR times a safety factor, say 1.5 to 2.5 to prevent getting kicked out if price goes the wrong way for one day. If your stop loss is hit, you will never lose more than what you are comfortable with. I am currently happy with a risk per trade of 0.3 to 0.5 % of my account. I intend to go to up 1 to 1.5 % once I know that my profit factor will have become good enough long enough to allow that and also trade with more money. I put some kind of "graduation plan" in place for myself: I may finally trade at a greater risk per trade if I reach a certain profitabilty stage. If I fail, back to square one, try again. Trading costs are another issue, though. I find using CFDs allow to trade 0.3 % per trade even if you have a small account (less then 10k) without getting killed by trading costs. Now that I have discovered No Nosense Forex, I am confident I will be able to improve my profit factor considerably by putting the work in and putting all the great stuff to work that I learn here. It's been a game changer for me already! Thank you so much for this channel!
I 've watched several of your videos within the last two days. Before watching them, I have made 2,000 pips this month doing everything wrong. I can't wait to see how well I do after you teach me how to do everything right.
Have you been following the algorithm piece? You should pop in the telegram channel. I'd also love to chat and see how similar our structure is. Been testing indicators for a bit and love to team up
I am home from my evening/night job and re-binging on the psychology and money mgmt videos. The more I watch again and again the more it sinks in. I'll be going home soon to attend graduations. I've got one niece and two nephews that will be learning about the rich dad poor dad cash flow money mgmt game which I myself have learned a shit ton from...and they will all get turned on to no nonsense forex. It's always an adventure when I come back into town lol
After watching tons of videos on forex trading, i can truly say that watching your money management playlist was the best thing to happen to my trading. Thank you
I am creating a spreadsheet that I could manage my trades and help me make decisions so far the trade entries are the easiest ones but managing a trade is the pain in the ass I am watching over and over again so I could create a system and formulas so I can make decisions very quick. I hate homework! hahaha
thank you so much VP.
Man I'm so lucky that I've just started about 2 months ago and found your channel. Trading in poor money management almost wiped out my confidence in trading !
Lol "sexxy" is your favourite word.
Hi am from GHANA 🇬🇭🇬🇭
I love what you are doing
You are real, straight, and amazing
Love u ❤❤
Am still watching your 5yrs videos
Damn, I can't believe you went there. Germany whooping Brazil in the Maracana! The penta campeon would never outlive this "L". I guess they didn't applied money management and relied too much on indicators.
Ok, so you talked for seven minutes about how important moneymanagement is. But no solution, no hint at at all to how actually get productive in this matter. Just talk. I guess you are great at what you do and I am still not. But that was definetely too much talk. btw. Many comments seem fake, like you could walk on water ^^ good luck in the future.
Thanks for sharing man. "Sorry Brazil" made my day though xD
My sixth video watched. You hurt me though showing the Germany X Brazil ( I am Brazilian), No hard feeling though, LOL!
Well all I could here is money mgt THIS and that... how do I get to manage this money...which is the most important
I really wished you didn't talk about this coin flip BS. *Risk Reward is NOT an Edge* . A goddamn edge is an edge, no matter the Risk Reward. If you have a setup that (over a significant amount of times) works nearly 55% with a Risk Reward of 1:1, that's an edge.
Btw, the coin flip thing and taking a random entry with "favorable" Risk Reward in the market randomness without any real actual edge? I back-tested this shit with algorithmic bot trading trading, taking random buy or sell entry based on 50-50 odds, and have come to the conclusion, good Risk Reward in of itself have NO EDGE over a market's randomness. (a negative edge actually including spreads, commissions and swaps)
In the unlikely scenario with zero spreads, commissions and swaps; over 20 years of back-testing, beyond 10,000 trades' results are:
SL: 50 pips | SL: 33 pips
| SL: 10 pips | SL: 90 pips |
SL = 49 pips
TP: 50 pips | TP: 66 pips
| TP: 90 pips | TP:10 pips |
TP = 51 pips
Win%: 50 | Win%: 33.3333
| Win%: 10 | Win%: 90 |
Win% = 49
Loss%: 50 | Loss%: 66.66667 | Loss%: 90 | Loss%: 10 |
Loss%=51
Gross profit = $0 | Gross profit = $0 | Gross profit = $0 |
Gross profit = $0 | Gross profit = $0
(Btw Gross profit was always negative due to spreads, commissions, swaps, slippages and many more)
*Win% is always the 100/( (TP pips)/(SL pips) + 1)* in this kinda random entry.
This shows that we don't have an edge over *Randomness*. Probability always adjusts itself through repetitiveness, you just gotta do it long enough.
Even trailing stops didn't work and here's why in my opinion:
Suppose you flip a coin and enter a random buy or sell trade with 50 pips SL and 50 pips TP. Your probability of hitting the either is 50%. But now it has moved up 25 pips in your favor, which means the probability is now 75% that it will hit your TP and 25% that it will hit the SL (see why in my point above.) But say in case you had a trailing stop. When the market moved 25 pips above, the SL also moved 25 pips above and now the price is equal distance away from your SL and TP having the same 50% probability of hitting your TP.
The lack of increase and decrease of probability mid-trade compensates/cancels out the shift in probability mid-trade from the first example. Thus having the anticipated Gross profit of $0, just like all other strategies *based on Randomness.*
So my point is that probability shifts never gives off unexpected "Edges", it always adjusts itself to give the exact probable outcome. Probability is a bitch.
Now having a real Edge is totally different, edges do exist, but Coin flip with "good" Risk Reward ain't one of 'em.
According to my definition an "Edge" you have over the market is when you can win more than *100/( (TP pips)/(SL pips) + 1)* , meaning more what Randomness allows you to.
Guys, guys...If using a risk reward of 2:1, you can win more than 33.333% over a substantial amount of times, or more than 25% of the time with 3:1 R:r ratio on a particular setup, then _that_ my friends, is an *_Edge_* :)
I talked very briefly about the coin flip, and if you watched more of my channel you'd see how I agree with you on having an edge, and we then combine it with trade management concepts different than what you showed in your example.
@@NoNonsenseForex Thanks for reading VP. I agree with u too, and you give out one of the most informative and quality content out there. I'm just pointing out my research with the coinflip style. The more people know it the better, right? Just like you I don't want people to base their ideas on the wrong fundamentals, that's all.
MONEY MANAGEMENT. I LOVE IT. THANK YOU💲👍🎊🎉🍻
wasted 7 minutes of my life listeting of just pure talk. Where is examples, strategy and etc?
Sir i can’t thank you enough! Very informative!
Solid video bro! 💪 Thank you!
Best advices ❤
thanks bro you're a Legend!
I had to laugh when the add before your video... "Being a trader can really suck, especially when your losing a lot of money repeatedly, but it can also be great too! Hi I'm suchandsuch, and I have been having success with this miracle strategy, and my students have too! You can be a master trader in 15 mins with this simple London market strategy. Click the link to get rich quick....." *quote may be para-phrased* Hahaha oh yeah, so sometimes you win? and you're in the exclusive 99% club?.. oh wow! I'm "oversold"! hahaha - VP you've put vocabulary to what I thought, but didn't want to believe. Thank you! Look forward to dominating, and donating!
Thank you for all vdos you share. My English is not fluent but I get a lot more knowledge about how to trade wisely. Thank you VP.
Are you familiar with Walter Peters
I'm gonna tell you something. But not now. Now I'm just going to talk about how great whatever I'm gonna tell you later is. Dude! That... is nonsense!
Thanks a trillion sir
Thanks sir